Ube Industries, Ltd. reported consolidated earnings results for the nine months ended December 31, 2016. For the period, the company reported net sales of JPY 439,909 million against JPY 482,326 million for the same period a year ago. Operating income was JPY 22,693 million against JPY 31,252 million for the same period a year ago. Ordinary income was JPY 22,603 million against JPY 30,134 million for the same period a year ago. Profit before income taxes was JPY 21,128 million against JPY 26,884 million a year ago. Profit attributable to owners of parent was JPY 15,072 million against JPY 19,228 million for the same period a year ago. Net income per share was JPY 14.24 against JPY 18.17 for the same period a year ago. Cash flows from operating activities were JPY 28,196 million against JPY 35,972 million for the same period a year ago. Adjusted operating income was JPY 25.3 billion against JPY 34.5 billion for the same period a year ago. Capital investment was JPY 26.6 billion against JPY 21.0 billion for the same period a year ago. Purchase of property, plant and equipment and intangible assets was JPY 25,884 million against JPY 24,277 a year ago. Interest-bearing debt was JPY 210.9 billion as on December 31, 2016 against JPY 227.2 billion as on December 31, 2015.

The company revised earnings guidance for the year ending March 31, 2017. For the year, the company now expects net sales of JPY 610 billion, operating income of JPY 33 billion, ordinary income of JPY 31 billion, profit attributable to owners of the parent of JPY 20 billion or JPY 18.90 net income per share compared to previous forecast of net sales of JPY 610 billion, operating income of JPY 35 billion, ordinary income of JPY 33 billion, profit attributable to owners of the parent of JPY 20 billion or JPY 18.90 net income per share. Operating income and ordinary income are projected to be lower than the previous forecast, due to rising resource and energy prices including for coal, slow growth in demand for cement and ready-mix concrete in Japan, and a downward swing in prices for export cement. Extraordinary loss is projected to improve over the previous forecast. As a result, profit attributable to owners of parent remains unchanged from the previous forecast. The company also expects capital investment of JPY 48.0 billion, depreciation and amortization of JPY 35.0 billion, adjusted operating income of JPY 36.0 billion, interest-bearing debt of JPY 208.0 billion, return on assets - ROA of 5.3% and return on equity ­ ROE of 7.3%.